By using one bank lender you will limit your options and chances of approval.
So here are some of the reasons you should be using a mortgage broker to help you secure the best product and chance for an approval.
1 Get Independent Advice on your Financial Options.
As an independent broker I work for you and you alone. As a licensed broker in NB it is my responsibility to take care of my client first. I am not tied to one specific lender or series of products. It is my job to get to know what you are looking for and guide you into the product that fits your needs and not the lenders.
2 Save Time With One Stop Shopping
I work with a variety of different lenders including a few bank lenders. This way you will only have one credit check done. I will then shop the market for the best rate and options as it pertains to your current situation. This will leave you all the time you need to go house shopping instead of going to various lenders looking for the best deal. One application will get you in front of various lenders, rates and products. The time you will save is priceless.
3 I Negotiate on Your Behalf
Many people do not like negotiating with a lender/bank and normally take what is put in front of them. With my market knowledge I will secure a competitive rate and term for your situation.
4 More Choices Means Better Rates and Products
With a network of major Canadian lenders your options are extensive. I get weekly rate specials and offers. I also have options for previous credit issues, bankruptcies, self-employed clients and cash back to help with closing costs.
5 Ensure You Are Getting The Best Rates and Products
Even though you may be pre-approved does not mean you cannot continue to shop. I will be able to take your current offer and shop around to make sure you are getting the best possible deal for your current situation.
6 Continued Involvement Throughout the Process
My work is not done until the mortgage closes and closes on time with no issues. I will handle problems that may arise and guide you through the process to ensure a smooth and stress free experience.
7 Get Expert Advice
I will explain the whole process in easy and clear language so you will understand all the various terms, products etc. No question is left unturned. I encourage my clients to ask questions in regards to the process and ensure they get the correct answer. This way you are able to make your decision with confidence.
8 No Cost To You
There is no charge for my service on any traditional residential transactions. The lenders pay me a finders fee for sending them quality clients. These finders fee’s do not effect your rates or terms so the focus remains on you as a client.
9 On Going Support and Consultation
Even after the mortgage is signed and you are in your home I am still here to answer any questions you may have. I follow my clients throughout the term of their mortgage and will do follow ups to ensure any questions or concerns are addressed. When its time for renewal I will be in contact to ensure you are getting the best possible renewal offer available and if not we will look to transfer you elsewhere.
A home is probably the biggest purchase you will ever make so you owe it to yourself to get the best possible deal. We all seem to comparison shop for a lot of things in our life. Things like insurance, vehicles, food, electronics. It just makes sense to do the same with your mortgage.
Today’s way of getting a mortgage is not like our parents so ensure you seek out a professional that will work for you. Remember I am not paid a salary or by one specific lender. Bottom line – I am your broker working for YOU.
Eric Gall is the owner of Avanti Mortgages (operating as a mortgage broker for TMG – The Mortgage Group Atlantic). If you are purchasing, refinancing or renewing your mortgage contact Eric or check out his website and apply online. If you are a First Time Homebuyer then get your free report here. If selling/refinancing a home get your free report here to avoid some common mistakes.